Sec. 2431.
(1) The expenses of foreclosing any mortgage by advertisement shall be taxed in the circuit court as in civil actions upon the request of any person paying the expenses thereof, and upon such party liable to pay the same.
(2) Where an attorney is employed to foreclose a mortgage by advertisement, an attorney's fee, not to exceed any amount which may be provided for in the mortgage, may be included as a part of the expenses in the amount bid upon such sale for principal and interest due thereon in the following amounts:
(a) for all sums of $1,000.00 or less, $25.00.
(b) for all sums over $1,000.00 but less than $5,000.00, $50.00.
(c) for all sums of $5,000.00 or more, $75.00.
But if payment is made after foreclosure proceedings are commenced and before sale is made, only 1/2 of such attorney's fees shall be allowed. Both the principal and the interest due thereon shall be included in the sum on which the attorney's fee is computed.
History: 1961, Act 236, Eff. Jan. 1, 1963 ;-- Am. 1963, Act 2, Imd. Eff. Mar. 6, 1963
Structure Michigan Compiled Laws
Chapter 600 - Revised Judicature Act of 1961
Act 236 of 1961 - Revised Judicature Act of 1961 (600.101 - 600.9948)
236-1961-24 - Chapter 24 Costs (600.2401...600.2461)
Section 600.2401 - Taxation of Costs; Regulation by Supreme Court.
Section 600.2405 - Costs; Items Taxable.
Section 600.2411 - Special Costs in Action Against Public Officers.
Section 600.2415 - Costs; Liability of Next of Friend or Guardian.
Section 600.2421 - Civil Actions by or in Name of People; Liability for Costs; Warrant.
Section 600.2421a - Meanings of Words and Phrases in MCL 600.2421c to 600.2421f.
Section 600.2421b - Definitions.
Section 600.2421f - Recovery of Same Costs Under Law or Court Rule Prohibited.
Section 600.2421g - Applicability of MCL 600.2421a to 600.2421f to Civil Actions.
Section 600.2431 - Costs; Foreclosure of Mortgage by Advertisement; Attorney's Fee.
Section 600.2435 - Costs; Supplementary Proceedings.
Section 600.2441 - Costs; Costs Additional in Civil Actions in Supreme Court and Circuit Court.
Section 600.2451 - Taxation of Costs in Supreme Court and Court of Appeals; Notice.